This mini-dissertation investigates the influence that an outcome-based remuneration scheme can have on productivity in the financial sector. It focuses on four dimensions that were used to determine if productivity levels could be affected; all of these four dimensions could be linked back to the performance of the employee and employer. The four dimensions were units produced, overtime, absenteeism and till cash up which speaks to the quality of transactions that were processed. When these four dimensions were tested statistically the results tended to suggest that there is a positive association with productivity and an outcome-based remuneration scheme. This simply means that an outcome-based remuneration scheme increases productivity levels in the workplace, more specifically in the financial sector; the literature review also supports this statement. The study also deals briefly with the advantages and disadvantages of a pay for performance scheme as well as when designing a pay for performance scheme what are the key design elements. It also briefly touches on the implementation of such a scheme, whether pay for performance is sustainable over a period of time and what are the most common types of pay for performance schemes. / Thesis (MBA)--North-West University, Potchefstroom Campus, 2013.

The study addresses the impact that fringe benefits have on the levels of job satisfaction and engagement of the employees of Orica Mining Services. Orica is a global explosives company that serves the mining and construction industries all over the world. The remuneration of employees differs from country to country within the organization and this can lead to confrontations when employees compare remuneration packages amongst one another. To determine the appropriate compensation for the value of the work becomes even more difficult when dealing with a global organization. This matter becomes even more complicated when an organisation's boundaries stretch across country borders. The study aims to compare job satisfaction and engagement of Orica employees working in South Africa to those working in Ghana. A survey research design was used with a specifically developed questionnaire as the data gathering instrument. The participants represent the total of all employees of Orica, a global mining services company. Management supported the study and made participation compulsory. A total of 57 employees completed the questionnaires. Employees from different areas, gender, age, academic levels and income groups participated. The majority of the respondents were in the age group 36 - 40 (28.1%). Educational levels revealed that the majority (68.4%) of participants have a Grade 12 and/or higher qualification. Because all the questionnaires represented the population and not just a sample, only a test to determine practical correlation was performed. For the purpose of the correlation test, the Nonparametric Spearman's correlation coefficient (r) was used. The statistical analysis indicated a highly important correlation between Job Satisfaction and Engagement. Thus a high level of job satisfaction will imply a high level of engagement and vice versa. It has also indicated that Job Satisfaction and Fringe Benefits shows a low practically significant correlation. The test for correlation between Job Satisfaction and Remuneration indicated that the level of job satisfaction an employee experiences in the organisation is influenced by his remuneration package. The test for correlation between Engagement and Fringe Benefits shows a low practically significant correlation. The test for correlation between Engagement and Remuneration shows a low practically significant correlation. The limitations of the study were the limited number of employees in Orica South Africa and Orica Ghana for participation in this comparative study. The structure of remuneration packages is treated as confidential and therefore employees might be hesitant to answer questions regarding fringe benefits and remuneration. The study was conducted within Orica and therefore its outcome can only be released with the permission of Orica South Africa and Orica Ghana. / Thesis (M.B.A.)--North-West University, Potchefstroom Campus, 2011.

The study addresses the impact that fringe benefits have on the levels of job satisfaction and engagement of the employees of Orica Mining Services. Orica is a global explosives company that serves the mining and construction industries all over the world. The remuneration of employees differs from country to country within the organization and this can lead to confrontations when employees compare remuneration packages amongst one another. To determine the appropriate compensation for the value of the work becomes even more difficult when dealing with a global organization. This matter becomes even more complicated when an organisation's boundaries stretch across country borders. The study aims to compare job satisfaction and engagement of Orica employees working in South Africa to those working in Ghana. A survey research design was used with a specifically developed questionnaire as the data gathering instrument. The participants represent the total of all employees of Orica, a global mining services company. Management supported the study and made participation compulsory. A total of 57 employees completed the questionnaires. Employees from different areas, gender, age, academic levels and income groups participated. The majority of the respondents were in the age group 36 - 40 (28.1%). Educational levels revealed that the majority (68.4%) of participants have a Grade 12 and/or higher qualification. Because all the questionnaires represented the population and not just a sample, only a test to determine practical correlation was performed. For the purpose of the correlation test, the Nonparametric Spearman's correlation coefficient (r) was used. The statistical analysis indicated a highly important correlation between Job Satisfaction and Engagement. Thus a high level of job satisfaction will imply a high level of engagement and vice versa. It has also indicated that Job Satisfaction and Fringe Benefits shows a low practically significant correlation. The test for correlation between Job Satisfaction and Remuneration indicated that the level of job satisfaction an employee experiences in the organisation is influenced by his remuneration package. The test for correlation between Engagement and Fringe Benefits shows a low practically significant correlation. The test for correlation between Engagement and Remuneration shows a low practically significant correlation. The limitations of the study were the limited number of employees in Orica South Africa and Orica Ghana for participation in this comparative study. The structure of remuneration packages is treated as confidential and therefore employees might be hesitant to answer questions regarding fringe benefits and remuneration. The study was conducted within Orica and therefore its outcome can only be released with the permission of Orica South Africa and Orica Ghana. / Thesis (M.B.A.)--North-West University, Potchefstroom Campus, 2011.

This study concerns itself with executive share option plans that have earnings per share targets and examines whether the existence of such vesting criteria results in opportunistic behaviour by managers or represents efficient contracting. Accounting choices by management are studied to see whether earnings per share targets in various executive remuneration components are associated with (1) the disclosure of alternative earnings per share, (2) earnings management defined as abnormal working capital accruals and (3) earnings management defined as meeting or beating analysts' forecasts. To begin with, the current study tests for an association between the disclosure of alternative earnings per share figures and earnings per share performance criteria in executive share options. Following Healy (1985) it is argued that situations might exist where executives are aware they will not meet the target or will overshoot the target giving rise to incentives to manage earnings downwards. There are also situations where executives expect to miss the target but have incentives (and scope) to manage earnings upwards. The study then proceeds to measure earnings management using a modified Jones (1991) model. A proxy for target growth in earnings per share is developed. The third and final section of the current study considers meeting or beating analysts' forecasts as the earnings management metric. Prior research provides evidence that meeting or beating analysts' forecasts is rewarded by the stock market and as the payout from executive share options is linked to share price, executives have incentives to meet or beat analysts' forecasts.Regression analysis, in the form of either logit or ordinary least squares is employed in all three sections of this study. The results suggest that earnings management is associated with earnings per share vesting targets in executive share option plans. Moreover, the findings as a whole suggest that the introduction of earnings per share targets as a vesting criterion in executive share options resulted in opportunistic behaviour by management.This thesis adopts an agency theory framework and contributes to the literature on corporate governance and executive remuneration by identifying a specific contractual setting where management is especially sensitive to reported earnings numbers. This particular setting is novel. Additionally, the research design facilitated the testing of whether or not executive share options with an earnings per share growth target result in opportunistic behaviour on the part of managers or represent efficient contracting.

A regulação do setor de Saúde Suplementar Brasileiro vem nos últimos anos cada vez mais atuante. Gerir custos desse setor envolve lidar com variáveis com valor agregado alto e receitas estáveis de difíceis aumentos de valores. Torna-se imprescindível um esforço para repensar as formas de remuneração adequadas para criar um pagamento equitativo que contemple um ajuste nos resultados. Através de pesquisa bibliográfica primeiramente esse trabalho apresenta as principais formas de remuneração do trabalho médico nesse setor e os conceitos da Teoria da Economia dos Custos de Transação. O trabalho busca analisar através da Teoria dos Custos de Transação o modelo predominante de remuneração médica na saúde suplementar do Brasil. Através de entrevistas realizadas com gestores das Unimeds da região nordeste paulista analisa-se a existência dos fatores: oportunismo, incerteza e complexidade do ambiente para a ocorrência dos custos de transação no modelo de remuneração por produção / The regulation of the Brazilian Supplementary Health section has recently become more active. To manage the costs of this section involves dealing with changeable added values and stable incomes of difficult value increase. It takes an indispensable effort to rethink the proper maintenance reforms to create an equitable payment that shows and adjustment of the results. Through bibliographic research, firstly this article presents the main forms of medical labor remuneration in this section and the concepts of Transaction Cost Economics Theory. The article aims to analyze, through the Transaction Cost Theory, the predominant model of medical remuneration in the Brazilian supplementary health. Throughout interviews performed with UNIMEDs managers of the northeast region of São Paulo state, it could have been analyzed the existence of the factors: opportunism, uncertainty and a complex environment for the occurrence of transaction costs in the production-based remuneration model

The objective of this thesis is to evaluate the overall remuneration system in the company Montela Ltd., and to recommend innovations that would improve the current system. In order to obtain information on the company's operations, a meeting was held with the executive manager of the company and a questionnaire survey was conducted among the company's employees. The results of the questionnaire survey showed a certain degree of dissatisfaction of employees with the amount of work done and its valuation in wages. As another shortage, the employees mentioned the amount of benefits they receive. The last problem that the questionnaire survey revealed was that employees would welcome a training in new technology. I would therefore propose the following innovations: the introduction of a meeting between the head manager and its subordinates, setting targets, evaluating and remunerating them on the basis of the objectives achieved over the past months. Introduce the benefit in the form of sick day and train employees in news of their field.

A regulação do setor de Saúde Suplementar Brasileiro vem nos últimos anos cada vez mais atuante. Gerir custos desse setor envolve lidar com variáveis com valor agregado alto e receitas estáveis de difíceis aumentos de valores. Torna-se imprescindível um esforço para repensar as formas de remuneração adequadas para criar um pagamento equitativo que contemple um ajuste nos resultados. Através de pesquisa bibliográfica primeiramente esse trabalho apresenta as principais formas de remuneração do trabalho médico nesse setor e os conceitos da Teoria da Economia dos Custos de Transação. O trabalho busca analisar através da Teoria dos Custos de Transação o modelo predominante de remuneração médica na saúde suplementar do Brasil. Através de entrevistas realizadas com gestores das Unimeds da região nordeste paulista analisa-se a existência dos fatores: oportunismo, incerteza e complexidade do ambiente para a ocorrência dos custos de transação no modelo de remuneração por produção / The regulation of the Brazilian Supplementary Health section has recently become more active. To manage the costs of this section involves dealing with changeable added values and stable incomes of difficult value increase. It takes an indispensable effort to rethink the proper maintenance reforms to create an equitable payment that shows and adjustment of the results. Through bibliographic research, firstly this article presents the main forms of medical labor remuneration in this section and the concepts of Transaction Cost Economics Theory. The article aims to analyze, through the Transaction Cost Theory, the predominant model of medical remuneration in the Brazilian supplementary health. Throughout interviews performed with UNIMEDs managers of the northeast region of São Paulo state, it could have been analyzed the existence of the factors: opportunism, uncertainty and a complex environment for the occurrence of transaction costs in the production-based remuneration model

This diploma thesis deals with the system of remuneration of employees in the company. The aim of the diploma thesis is to evaluate the current system of remuneration of the selected company and to propose possible innovations in this system that could led to its improvement. The theoretical part first introduces the basic concepts of remuneration and the legislation that deals with remuneration. The second part describes the system of remuneration, payroll forms of remuneration and employee benefits. The last part of literary research characterizes innovations and their division. The practical part is focused on the system of remuneration in the concrete company. First are the general and economic characteristics of the selected business stated. Subsequently the human capital of the company is analysed from the point of view its development and separation by gender, education and level job. The next section describes the current system of remuneration. Then is the system evaluated using SWOT analysis. There is also evaluation of the human capital and its effectiveness. The result of the work are concrete proposals of innovation which should contribute to improving the current system of remuneration.

The following work is a contribution to the research in the field of remuneration and corporate governance. Main aim is to get answers on the question on the relationship between the disclosure of the remuneration system and the firm value. The first research question is, if there is a positive effect of the disclosure of remuneration information on the firm value. Second important research questions are how many companies have separate published remuneration reports and what the qualitative level of the remuneration reports is. The first part of the work gives a literature review of the State-of-the-Art-literature of Corporate Governance and Remuneration. The work includes an Empirical Study of a sample of 100 companies and the existence of separately on the companies' websites published remuneration reports. The contents and the structure of the reports are compared via an indicator-list. Main identified aspects are the remuneration approach, the concept of the report and the disclosure of remuneration. The Event Study method is used to test the relationship between the disclosure of the remuneration system and the firm value. The method is chosen to have the possibility to isolate the factor remuneration system from other influencing factors. Share price and target return, S&P 500 index and target return, abnormal return, standard deviation and differences are computed. The results are compared and indicate that there is a positive effect, because the firm value of the chosen companies are higher after the event than before the event, although the results are not statistically verified. A positive effect on the firm value would be an incentive for companies to publish the information of remuneration in future.

The diploma thesis deals with a proposal for the development of a remuneration system in a selected company using the concept of total remuneration. In the first part, a factual research is used to describe the theory for a better understanding of the issue. The second part includes an analysis of the selected company in terms of internal and external influences. The third part presents suggestions for change, including an economic evaluation of costs and benefits.